The document which authorizes the Minister of Finance to release fund for government expenditure is A a warrant B a bank cheque C an order D a vote book Answer is A
A reserve is an amount A to be paid to creditors B set out of profit for future use C for paying dividends D recovered from debts earlier written off Answer is B
Which of the following is used in locating errors in the ledger? A trading account B trial balance C control account D journal proper Answer is C
The capital of not-for profit making organization is A capital reserve fund B accumulated fund C endowment fund D development fund Answer is B
Use the following information to answer the given questionNet sales is Net sales is A N15,000 B N14,750 C N14,600 D N14,450 Answer is D
Use the following information to answer the given question Net profit is A N9,100 B N7,850 C N7,750 D N6,500 Answer is D sales …
Use the following information to answer the given question Gross profit is A N10,350 B N10,200 C n9,500 D N9,100 Answer is D
Use the following information to answer the given question The cost of goods sold is A N5,350 B N5,150 C N4,500 D N4,250 Answer is A
A list of all credit and debit balance from the ledger accounts is A trial balance B profit and loss statement C statement of affairs D balance sheet Answer is A
Which of the following accounts has a debit balance? A capital reserve B revenue reserve C share premium D share discount Answer is D
How much did Olu sell goods bought at N1,000 if he sells at a margin of 20% on selling price? A N1,250 B N1,200 C N1,000 D N250 Answer is B
Bills receivable is a A current liability B current asset C long-term liability D fictitious asset Answer is B